According to informed sources, oil prices in the international market have decreased by $2 to $3 per barrel during the last 15 days.

Similarly in Pakistan, the price of petrol is likely to decrease by Rs2.90 per litre and that of diesel by Rs8.50 per litre. However, it ultimately depends on the current tax rates.

According to the authorities, the average price of petrol in the international market decreased from $89.50 to $87.50 per barrel and that of diesel from $96.93 to $94 per barrel.

Currently, the price of petrol is Rs275.60 per litre and that of diesel is Rs284 per litre. After the new prices, petrol will remain above Rs272 per litre while diesel will remain close to Rs275 per litre, provided the government does not increase the rate of petroleum levy.